KNSA - Kiniksa Pharmaceuticals: Arcalyst Performs While Abiprubart Plans Take Shape

2024-04-24 13:34:34 ET

Summary

• Kiniksa Pharmaceuticals reported strong Q1 2024 results, with net sales of Arcalyst growing 85% YoY and 11% sequentially.
• Arcalyst's strong performance has driven a $10 million increase in the full-year net sales guidance range.
• Kiniksa plans to develop abiprubart for the treatment of Sjogren's syndrome, with a large phase 2b trial expected to start in the second half of the year.
• With long development timelines for abiprubart, Kiniksa faces a very dry period for its clinical pipeline and the upside in the next 2-3 years depends on Arcalyst.
• With a strong balance sheet and management expecting positive cash flow this year, we could see Kiniksa in-license additional clinical candidates in the following quarters.

Kiniksa Pharmaceuticals ( KNSA ) reported Q1 2024 results that showed strong sequential and year-over-year net sales growth of Arcalyst, and the strong year-to-date performance prompted a $10 million increase in the full-year guidance range. The expanded sales force, good payer coverage and positive experience of patients and physicians are driving Arcalyst’s strong uptake....

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